Four Employees Arrested in Anakapalli for Stealing Palladium Worth ₹1.15 Crore from Metal Firm
In a significant case of corporate theft, four employees of a metal manufacturing company in Jawaharlal Nehru Pharma City (JNPC), Parawada, Anakapalli district, were arrested on October 16 for stealing around 4 kg of palladium, a highly valuable metal, worth ₹1.15 crore. The theft has sparked concerns about security measures in industrial plants, especially those handling precious metals.
Arrest and Identification of the Accused
The arrested individuals have been identified as Ch. Raju (26), a painter; M. Vineeth Varma (27), an electrician; Ch. Murali (23), a helper; and K. Ramachandra Raju (21), who worked as an assistant to the production manager in the company. Their positions within the firm allowed them access to sensitive areas, which they allegedly exploited to execute the theft.
How the Theft Unfolded
The theft occurred at the metal firm’s production block, where palladium in powder form was stored. On the night of October 9, the company had placed 4.2 kg of palladium in a dryer, securely locking it for the night. However, by the morning of October 10, the valuable metal was missing, leading the company to file a formal complaint with the local police.
Superintendent of Police (SP) M. Deepika, who has been overseeing the case, explained that the accused had meticulously planned the theft. It was revealed that on October 5, the group met in a hotel to devise their plan to steal the palladium from the company's production block. Their familiarity with the plant’s operations made it easier for them to strategize.
Execution of the Theft
According to the police, Vineeth Varma and Ramachandra Raju first disabled the CCTV cameras in the area, ensuring that no footage of the heist would be captured. They then created a duplicate key for the dryer, enabling them to access the palladium. Late on the night of October 9, Raju and Murali scaled the wall of the production block and entered the building. Using the duplicate key, they opened the dryer and stole the palladium. The stolen metal was then hidden at Raju’s residence, awaiting a buyer.
Investigation and Arrest
The theft came to light when the company's management noticed the missing palladium and immediately reported it to the Parawada police. The authorities launched an investigation, which quickly led them to the four employees. As they began their search for a potential buyer for the stolen metal, the accused were apprehended, preventing them from profiting from their crime.
Inspector R. Mallikarjuna Rao of the Parawada police station, along with his team, played a crucial role in unraveling the case and apprehending the suspects. Their swift action has been praised, given the high value of the stolen material.
Palladium: A Precious Metal in High Demand
Palladium is a rare and valuable metal used primarily in the automotive, electronics, and chemical industries. Its value has surged in recent years due to increasing demand, making it a target for thefts. The incident at the Anakapalli firm has raised awareness about the vulnerabilities in securing such high-value materials. The loss of palladium worth ₹1.15 crore is significant, and the company's quick reporting of the crime helped expedite the investigation.
Strengthening Security Measures in Industrial Areas
The theft has highlighted the need for stricter security protocols, especially in industries that deal with valuable metals like palladium. While disabling CCTV cameras and using duplicate keys played a major role in this heist, the incident underscores the importance of better surveillance systems, more secure locking mechanisms, and regular audits of employees who have access to sensitive areas.
Authorities and industry experts are urging companies to review their current security measures to prevent such thefts in the future. Whether through improved technology or tighter human oversight, stronger precautions are needed to safeguard valuable resources.
The arrest of the four employees in Anakapalli for stealing ₹1.15 crore worth of palladium has sent shockwaves through the industrial community. Their elaborate plan to steal the metal and their subsequent arrest underscores the importance of vigilance in the workplace. The case serves as a reminder that even trusted employees can pose security risks, and companies must take proactive steps to secure their valuable assets. As the investigation continues, the authorities are committed to ensuring that justice is served, and the company’s stolen palladium is recovered.
